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20121211
20121211
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CNBC 3
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Search Results 0 to 6 of about 7 (some duplicates have been removed)
CNBC
Dec 11, 2012 1:00pm EST
that you think that going over the fiscal cliff is in president obama's best interest. >> i really believe that. frankly, the lack of credible solutions and backtracking like the amount of spending. doubling the taxes he wants raised and the fact he wants stimulus package that he knew nobody was going to support here. doesn't look like he's trying to engage in ernest discussions, which leads me to believe he wants us to go over the cliff and be able to blame the republicans and maybe it's more about politics. >> congress people themselves said the election was a referendum on the president's ideas. part of that was the very clear message of tax hikes on the top 2%. >> that's great, but he didn't win my district and i did. so my mandate is something else. >> good appoint. >> if we only represent our own slices we'll never get anything done. >> you hit the nail on the head. what we're being asked is the republican conference, jump off the cliff alone. if this is going to be a deal, we've got to grab hands together and jump off together. they have got to put the long-term obligations on the t
CNBC
Dec 11, 2012 6:00am EST
are concerned about the fiscal cliff, because of taxes. we are saving, absolutely. we're holding on any types of expansion. in an economy that's like desperate for jobs, that shouldn't be the case. there's really no politics when you have to balance the budget like we do in business every day. it's the same here. i would like lawmakers in congress to compromise and make a settlement, avoid the fiscal cliff, and move on. >> welcome back to our sal mission critical rise above d.c. coverage. i'm jim cramer. becky quick. we're coming to you from capitol hill. and we're here encouraging lawmakers to rise above partisan politics and negotiate a deal to avoid the fiscal cliff. joining us now senator ron johnson, republican from wisconsin. thanks so much for coming. >> good morning. >> i'm getting worried here. because clock is ticking. should we allow a vacation without legislation? >> no, i'm happy to stay here until we get this thing fixed. understand how absurd this process is. we've done this with the debt ceiling. with the super committee. now we're back here again where we've got two people, a
Current
Dec 11, 2012 2:00am PST
over this past weekend we heard the fiscal cliff is a cliff. no parachute. bad things happen if we go over it. i have never been persuaded of that. the payroll tax is likely to go up either way. the taxes in the healthcare bill will kickback in no matter what. sequestration could be remedied. is it in your view a slope, a cliff, what is the metaphor, and is there hysteria attached to this that is excessive? >> cliff is a problematic metaphor because it is not like the debt ceiling. it's not even like the government shutdown. you don't necessarily have an enormous market reaction. this is not like the country defaulting on its debt. but it's serious for two reasons. we don't know what the reaction could be. there it is a chance that it could spook the markets. the second thing, the combine pieces of this passage is a combined 4% of the gdp. if they went into affect and remained in affect not just for a couple of weeks but for the full year it's hard to see how the economy avoids a recession next year. it's not guaranteed but it's more than enough to push the economy into a recession. i
CNBC
Dec 11, 2012 9:00am EST
with a deal on the fiscal cliff? why? because it represents the beginning of american austerity. higher taxes in the long run, spending cuts in the long run, that is a headwind for stocks. not a tailwind. i know everybody's excited about the deal being made. but a substantial minority believes that's a deal for the fed stocks. the general consensus down here, current purchases, $85 billion, is going to continue. instead of $45 billion from operation twist, operation twist goes away, and you go to outright purchases of treasuries. and you continue with that $40 billion in mortgage-backed security purchases. the $85 billion, they're doing right now, continues in a slightly different form. you guys, we're talking about aig. just two observations on aig. you'll notice here, it looks like to me they're not repurchasing any of their shares. they're dumping a huge amount of shares on the market. aig isn't actually buying it back. that's a signed of strength for the company. the other interesting thing is, the losses on sandy have been coming in recently. aig gave $2 billion in pre-tax losses. you in
Current
Dec 10, 2012 5:00pm PST
and ignore the momentarily crisis, the fiscal cliff or the ben gas bengahzi kerfuffle how do we begin to think about that, you mentioned, you are the think tank of this administration. >> we put put forward a tax reform plan that meets the levels of revenue that they put forward, but does it in a fairer way that supports the middle class and working people by changing the structure of the personal income taxes. it does raise the rates up to back up to the clinton levels, which by the way the economy did pretty well under for the people at the top but it converts deductions into a simple credit, which would make the income tax system rather than exacerbateing income and inequality, it would dampen it by giving everybody the same credit. if i'm a teacher and i have $1' worth of mortgage, i get $0.18. if i'm a millionaire i get $0.18. >> eliot: right now, the higher income get a bigger deduction. >> that's true for retirement and across the range of benefits that you get under the incomes tax. >> eliot: i want to focus on a piece of that proposal that you put forward. you want to raise t
Current
Dec 11, 2012 6:00am PST
, to work cheap. the president on the fiscal cliff yesterday. >> obama: we can solve this problem. all congress needs to do is pass a law that would prevent a tax hike on the first $250,000 of everybody's income. >> stephanie: it's everybody. >> even the rich. >> stephanie: even your favorite top 1 percenters. >> good heaven's that lunch money. >> that's the electricity bill for mitt romney's car elevator. [♪ "world news tonight" theme ♪] >> stephanie: they held more negotiations yesterday, but neither side showed a willingness to give ground. the president said we make tough spending cuts on things we don't need, and we ask the wealthiest americans to pay their part. it's almost like a movie you don't need to pay attention to yet. >> yeah, or i'll read the synopsis online. >> stephanie: i'll get the cliff notes. >> yeah. [ laughter ] >> stephanie: the white house spokesman said i can only believe the president will find something acceptable. what stage are they at after the election bargaining depression, where are they? we need to let them get through that first. i
Search Results 0 to 6 of about 7 (some duplicates have been removed)